Russia FX/Rates Snapshot - October 11, 2018
Yesterday saw a selloff in the US stock markets fueled by fears that the ongoing trade wars would weaken US corporate profits, and by the recent rise in US Treasury yields. Oil slumped 2.2% yesterday and another 1.0% today to reach $82/bbl amid the equity selloff, an API weekly inventory update showing a 9.75 mln bbl increase in crude stockpiles and Hurricane Michael making landfall. The ruble was quoted in a range of 66.05-66.35 early on yesterday, but it took a hit when the US markets opened and oil began to fall. Russian exporters were reluctant to sell hard currency, while foreigners were buying it. As a result, USD/RUB rose to 66.90 by the close of the US session.
Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.
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